Kanawha Capital Management LLC Sells 135 Shares of Dover Co. (NYSE:DOV)

Kanawha Capital Management LLC lowered its stake in shares of Dover Co. (NYSE:DOV) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,813 shares of the industrial products company’s stock after selling 135 shares during the quarter. Kanawha Capital Management LLC’s holdings in Dover were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versor Investments LP purchased a new stake in Dover in the third quarter valued at about $1,920,000. Assenagon Asset Management S.A. lifted its holdings in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Dover by 3.1% during the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares during the period. Empowered Funds LLC lifted its holdings in shares of Dover by 54.3% during the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares during the period. Finally, TrueWealth Advisors LLC acquired a new stake in shares of Dover during the fourth quarter worth about $475,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOV has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Oppenheimer reiterated an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research report on Friday, January 31st. UBS Group reduced their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company lifted their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada lifted their price target on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

NYSE DOV opened at $202.76 on Friday. Dover Co. has a fifty-two week low of $159.23 and a fifty-two week high of $222.31. The stock’s fifty day moving average is $195.23 and its two-hundred day moving average is $191.50. The firm has a market capitalization of $27.82 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, research analysts anticipate that Dover Co. will post 9.47 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.